Real-Time Golem Price Chart (GNT to USD)

Golem (GNT)

Golem (GNT) is a cryptocurrency that powers the associated Golem network, a platform for allocating spare computing power to other users. Network users who wish to offer their spare computing power for sale receive GNT coins as a reward. The network operates on the Ethereum blockchain and uses its Smart Contracts feature to manage transactions. The value of Golem rose dramatically in 2017 soon after its release and again in the 2018 digital asset boom. Unlike most other coins, it again rose in value a few months after the 2018 boom had passed, though it proceeded to fall in value again. It is now a top 80 coin by total market cap, and its price level remains elevated beyond its initial price range and continues to climb.

The concept underlying Golem is simple: there are many high-powered computers that spend a large portion of their time idling. By allowing the owners of this computing power to profit from their use by others during idle periods, massive market inefficiencies are solved and the process is monetized. By operating on the Ethereum blockchain, the network is able to use the reliability of the Smart Contract system to ensure safe and efficient operation of its computing power exchange.

Golem is available for trading on some major digital currency exchanges.